Item 2.01. Completion of Acquisition or Disposition of Assets.

On March 8, 2016, Strategic Realty Trust, Inc. (the "Company"), through a joint venture with an unaffiliated third party, acquired certain property located at 3032 Wilshire Boulevard and 1210 Berkeley Street in Santa Monica, California (the "Wilshire Joint Venture Property"). On August 10, 2022, the due diligence period expired under the Purchase and Sale Agreement and escrow instructions for the sale of the Wilshire Joint Venture Property by and between the Company and GD Realty Group Inc., an unrelated third party.

On October 11, 2022, the Company consummated the disposition of the Wilshire Joint Venture Property for $16.5 million in cash, before customary closing and transaction costs. In connection with the disposition of the Wilshire Joint Venture Property, the Company repaid the construction loan from ReadyCap Commercial, LLC in the amount of $12.7 million, which loan was secured by a first Deed of Trust on the Wilshire Joint Venture Property.

Item 9.01. Financial Statements and Exhibits.

(b) Pro forma financial information.

The pro forma financial information of the Company as adjusted to give effect to the sale of the Wilshire Joint Venture Property is presented in the unaudited pro forma condensed consolidated financial statements filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

(d) Exhibits

99.1 Unaudited Pro Forma Condensed Consolidated Financial Statements

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses